The Role of Management Teams in Business Success: Evidence from Serbia

This paper aims to increase understanding of the role and identify a model of a successful management team under the conditions of domestic economy in Serbia. The research problem is connected to the scientific valorization of the importance and prospects of the management teams through research of their effects and the creation of more effective models. The functioning of the management teams is determined according to subjective perspectives of managers, effective communication quality, and problem solving and conflict resolution. This paper seeks to identify and analyze the success factors of management teams in both public and private sector organizations. The main goal is determining ways to overcome and resolve conflict situations, degree of cooperation and openness in communication, leadership styles in relation with management tools and innovative solutions in business. The results show that most of the respondents think that well-functioning management teams represent a significant business potential of an organization, supporting the basic hypothesis. Also, the results of the study indicate several problems in the functioning of management teams related to behavioral aspects of the investigation. This study, both in social and economic terms, reflects the projected potentials for the region's future development, based on the part of the reality, which is statistically the best representative of certain aspects of our past and present.